Addressing the gender pay gap holds particular significance in the journey towards equality. With the recent introduction of legislation mandating the public disclosure of gender pay gaps in Australia, organisations have a unique opportunity to accelerate change and create a more equitable workplaces.
According to recent research, 45% of women are ready to walk away if they find out they’re paid less than their male peers. That’s why we’ve created a toolkit with a step by step guide to develop effective strategies for identifying and rectifying gender pay gaps, and accelerate progress towards gender equality to retain your top talent.
Looking Beyond Compliance
While compliance with the Workplace Gender Equality Amendment (Closing the Gender Pay Gap) Bill 2023 is essential, organisations should view it as a starting point rather than the ultimate goal. The true potential lies in implementing holistic organisational changes that tackle the underlying causes of gender inequality. By addressing systemic and interpersonal factors that contribute to the gender pay gap, organisations can create a more inclusive and supportive environment for all employees.
A Toolkit for Change To effectively address gender inequality, organisations need a structured approach that encompasses various elements. This toolkit aims to assist HR professionals and change managers in navigating the challenges and opportunities associated with tackling the gender pay gap. It provides specific guidance on the following steps:
- Articulate the Cost: Understanding the impact of the gender pay gap on individuals, organisations, and society as a whole is crucial. By bringing everyone on the journey towards change, you can specify costs and rewards for closing the gap and – possibly most importantly of all – the cost of not acting.
- Get on the Front Foot: Proactively assessing the current state of gender equality within the organisation is essential. Conducting your gender pay gap analysis early, before it’s mandatory to disclose, gives you the opportunity to explore the most sustainable ways to address it.
- Dig Beneath the Surface: To effectively address the gender pay gap, organisations must delve deeper into the underlying causes. This involves analysing factors such as unconscious biases, systemic barriers, and traditional gender roles that contribute to the imbalance.
- Equip your People: While we can’t shy away from the sensitive nature of conversations about salary, career advancement and fairness, it’s equally important that your team and the employees you support are ready to engage in these discussions.
- Build an Inclusive Workplace Culture: Building an inclusive workplace culture is a continuous journey. It’s about creating an environment where diversity is celebrated, and everyone feels valued and empowered.
While this toolkit has been developed with Australian legislative requirements in mind, the steps and guidance provided are broadly applicable to organisations worldwide. Gender inequality is a global issue, and the practices highlighted in the toolkit can serve as a roadmap for organisations looking to address the gender pay gap and foster a more equitable workplace.
Commitment to change
Achieving gender equality requires a collective effort and a commitment to change. By implementing the steps outlined in this toolkit, organisations can make significant progress in closing the gender pay gap and creating a more inclusive work environment.
It is important to remember that the benefits extend beyond gender alone, as the commercial performance of organisations is enhanced by cultivating diverse and inclusive workplaces.
For tailored support in your journey towards equality, get in touch with TDC Global here
Together, we can create a future where gender equality is a reality in every organisation and society as a whole.